• USD/JPY rose on Thursday as traders widely watched how new president Donald Trump’s policies could affect economic growth. 
   
• The dollar quickly regained its footing in choppy trade, helped in part by Trump's acceptance speech, which focused on unity and economic growth.
   
• Trump's positive tone boosted market expectations that the Federal Reserve will raise interest rates in December.
   
• Further downside is expected to be limited as the pair finds strong support at 105.65 should limit further decline and bring rebound towards higher levels in the short term.
   
• To the upside, the strong resistance can be seen at 107.52, a break above this level would take the pair towards next resistance level at 108.19.
   
• To the downside immediate support can be seen at 106.46, a break below this level will open the door towards next level at 105.65.
  
  Resistance Levels
  
  R1: 107.16 (38.2% Retracement Level)
  
  R2: 107.52 (July 21st lows)
  
  R3: 108.19 (23.6% Retracement Level)
  
  Support Levels
  
  S1: 106.46 (50% Retracement Level)
  
  S2: 105.65 (61.8% Retracement Level)
  
  S3: 104.97 (Daily lows)